40,000 loans granted for 8.6 billion dirhams – today Morocco

During her visit to the House of Representatives on Monday, Nadia Fettah, Minister of Economy and Finance, spoke about several issues, including Intelaka loans and rising prices.

8.6 billion dirhams is the total outstanding amount of the 40,000 loans granted under the intelaka program. Loans to promote the creation of 100,000 indirect employment opportunities. These figures were presented by Nadia Fettah, Minister of Economy and Finance, in response to a question put to her on Monday in the House of Representatives about the support and funding of project managers under the Intelaka programme. In this regard, the minister pointed out that this dynamism experienced by the program, which was launched in February 2020 under the high guidelines of His Majesty King Mohammed VI, reflects the desire among young people to create their own business.
Ms. Fettah also assured that “the reason why a third of the young people do not have access to the program is probably due to the lack of additional support to accompany their projects or their application files, which must be reconsidered”. And to remind that “the government has concluded a partnership agreement between Tamwilcom and the regional investment centers to help entrepreneurs who have not been successful in getting their files validated and to ensure the support of those who have received support for their projects to succeed”.

During her appearance before the MPs, Mrs Fettah also spoke about the increase in the prices of basic materials. In this sense, the minister declared that “support for basic products and affected sectors in order to organize markets and protect consumers costs 40 billion dirhams according to preliminary figures for 2022”.
Ms. Fettah also mentioned the allocation of 22 billion dirhams to subsidize butane gas, which allowed citizens to acquire the bottle for 40 dirhams at a time when the state pays more than 90 dirhams so that the price remains stable. The minister also indicated that the imported wheat cost 10.5 billion dirhams and the sugar about 4.8 billion dirhams, in addition to the mobilization of another 16 billion dirhams and the allocation of 26 billion dirhams to the compensation fund. On price control, Ms. Fettah assured that the Inter-Ministerial Commission responsible for monitoring prices has been conducting intensive operations in the markets and in several regions to deal with speculation. Regarding the measures initiated in the hydrocarbon sector, the Minister opined that the Executive has chosen to support the transport sector in view of its importance for the transport of goods and passengers, noting that this support reached its 9th installment with almost 3.9 billion dirhams. “The government has chosen to maintain the price of electricity, the costs of which are significant on the state budget, and specifies that 5 billion dirhams have been paid to the National Office for Electricity and Drinking Water in November”, reminds the minister in this regard. .

And to note that “The state budget supports 75 dirhams for 100 dirhams and 125 dirhams for 200 dirhams paid by the citizen at the level of the electricity bill. This also applies to drinking water”. In addition, the minister indicated that the first year of social dialogue cost 9.2 billion dirhams and that the state budget supports 9.5 billion dirhams to integrate 4 million Moroccan families at the level of the compulsory health insurance (AMO) that benefited from the medical aid scheme (Ramed).”

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